An Angola-based medical center has linked with Lutheran Health Network of Fort Wayne in what officials are calling a “joint venture entity.” Cameron Memorial Community Hospital leaders said Thursday the partnership grew out of a need to provide doctors an alternative to independent medical practices.
“It is the goal … that over time, the majority of community physicians who decide to become employed will choose employment by Lutheran Health Network,” said Greg Burns, president and chief executive officer of Cameron Memorial.
“The physicians will then become part of the joint venture organization and have a strong role in shaping future … medical care delivery in the region,” he said in a prepared statement.
The partnership comes a day after Fort Wayne’s Brooklyn Medical Associates joined Lutheran Medical Group, a division of Lutheran Health.
Symmetry earnings dip despite efficiency
Symmetry Medical Inc. on Thursday reported second-quarter earnings of $4.5 million, or 13 cents per share, a 50 percent drop from the $9 million, or 25 cents per share, posted for the same three months of 2009.
The Warsaw-based orthopedics device maker also reported $88.8 million in sales, a 12 percent decline from last year’s second quarter.
Brian Moore, president and CEO, confined his written comments to contrasting the second quarter with the first quarter. Total revenue in the second quarter increased by 5 percent compared with the first. Symmetry also improved profit margins as it increased efficiency, Moore said.
Rising material costs cut WaterFurnace gain
WaterFurnace Renewable Energy Inc. on Thursday reported second-quarter earnings of $3.21 million, or 27 cents per basic diluted share, a 12 percent dip from the $3.65 million, or 30 cents per share, posted for the same three months of 2009.
The Fort Wayne-based manufacturer of geothermal heating and cooling systems also reported second-quarter sales of $34.4 million, a 15 percent increase over last year’s second quarter.
The company said it made less money on more sales because material costs have gone up and profit margins are lower on commercial products, the bulk of the sales increases.
WaterFurnace also expects growth will be hampered by the struggling housing market, tight bank lending practices and changes in Canadian geothermal subsidies.
IRS to stop releasing taxpayer debt data
The Internal Revenue Service said Thursday it will end its policy of releasing information about back taxes and other debts owed by taxpayers in the coming tax season.
The information, called debt indicators, has been included on acknowledgements the IRS sent to tax preparers when electronically filed returns were received by the agency. The indicators served as a warning that some or all of the person’s refund might be held back to cover old debt, including back taxes, unpaid child support or delinquent federal student loans.
They are typically used by tax preparers to decide whether a taxpayer can get a refund anticipation loan. These short-term loans have been criticized for charging high interest rates and fees in exchange for providing access to money just a few days before the refund arrives.
